ISLAMABAD: The federal government has decided to launch the Prime Minister’s Fan Replacement Program, aiming to replace fans with energy-efficient electric fans in order to reduce electric consumption.
In this regard, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a high-level meeting to review the progress on the readiness and forthcoming launch of the program on Monday.
During the meeting, stakeholders presented detailed updates on the program’s operational readiness and its expected roll-out schedule, according to a press release issued by the finance ministry.
The meeting was attended by the Minister for Power, Sardar Awais Ahmad Khan Leghari, the Governor State Bank of Pakistan (SBP), the Chairman Pakistan Banks’ Association, and senior officials from the Finance Division, Power Division, and other relevant departments.
The participants reviewed the progress shared by National Energy Efficiency & Conservation Authority (NEECA) on progress regarding the completion of key preconditions, including the finalization of agreements with participating banks, integration of banking systems, and the facilitative role of the Punjab Technology Investment Board and Power Information Technology Company in providing technological solutions for expediting the implementation process.
On the occasion, Senator Muhammad Aurangzeb highlighted the Prime Minister’s special emphasis on this initiative, underscoring its significance in promoting energy efficiency, fostering financial inclusion, and contributing to economic stability.
He noted that the program has the potential to influence consumer behavior positively, reduce energy consumption, and offer broader economic benefits.
The Minister appreciated the active participation and collaborative efforts of all stakeholders, particularly the banking sector, in advancing this vital national initiative. He directed that all requisite actions be completed within the next two to three weeks to enable the launch of the program’s first phase, along with the initial batch of participating banks, by the end of the month.
The meeting concluded with a reaffirmation of commitment from all participants to ensure timely and seamless execution of the program, in line with the government’s broader economic and energy sector reform agenda, the statement added.
